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...Today, almost alone in the world, China's state-owned companies are still cash flush. Crucially, though, they have learned a basic - and expensive - lesson about investing abroad. As a result, the 'Go Out' strategy has been tweaked. It might now be better called the 'Buy Low' campaign, and in one of the markets that Beijing has long had in its strategic sights - Australia's vast metals and minerals industry - it is now unfolding. (See pictures from the Beijing Olympics...

Author: /time Magazine | Title: China Buys Australia On the Cheap | 2/17/2009 | See Source »

...behind both deals is clear enough - and are so compelling from China's standpoint that there are likely more to come. Both Rio and Oz Minerals have been crushed by the global recession's effect on demand for what they produce. Both have seen their value plunge as a result, and now labor under enormous debt burdens. Rio's stock price peaked at $552 a share last spring, then fell to a 52 week low of $55. The stock last traded at $112 on the New York Stock exchange. Oz Mineral's stock price hit AU$0.55 when trading...

Author: /time Magazine | Title: China Buys Australia On the Cheap | 2/17/2009 | See Source »

...current study does not detail why bacterial infections are occurring less frequently than before, but Burton speculates that it may be a result of greater vigilance on the part of both hospitals and state health departments in detecting and controlling the spread of MRSA. During the 10-year study period, improved methods of inserting catheters, shorter leave-in times for catheters, as well as improved hygiene and isolation practices have all become more routine. The goal now is to further reduce the risk of MRSA in vulnerable populations by identifying them early on: according to the Association for Professionals...

Author: /time Magazine | Title: Bacterial Infections in Hospitals Decline | 2/17/2009 | See Source »

...bank reputations, and with much criticism from an increasingly populist Congress, the Clearinghouse had no reason to partner with the Fed. Davison refused to galvanize his member banks in support of a statewide banking holiday. Harrison quickly gave up, delegating responsibility to a lesser state official. As a result, the New York Fed sustained over $350 million in gold and cash withdrawals the following...

Author: By Noah M. Silver | Title: Bridging the Capitalist Divide | 2/17/2009 | See Source »

...collision between a British nuclear-powered submarine carrying multiple nuclear warheads and a French nuclear submarine armed with a similar payload may have been the result of lack of communication between France and NATO nations, according to a former British submarine commander whose revelations were partially corroborated by an official at the French navy...

Author: /time Magazine | Title: Did France's Secrecy Cause a Nuclear-Sub Collision? | 2/16/2009 | See Source »

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